In an interview with a Chinese newspaper, Chan said the government has to factor in elements like the economy, financial burdens on the treasury, and relevant administrative costs. The voucher scheme should be adopted carefully, he also said.

He continued that although the economy is taking a turn for the better, citizens still face tremendous pressure in their daily lives and the government is still consulting their opinions.

Chan noted that the public benefit from the voucher generally speaking no matter how they spend the money, and expected the economy to revive more actively in the second quarter of this year.

Despite uncertainties such as Federal Reserve's rate hike and geopolitical issues, mainland reopening its border faster then expected allows the SAR to resume cross-border travel and can further boost the city's economic revival, Chan said.

The finance chief also said the prices of private homes didn't “dip” at once and noted the decline was only an orderly adjustment of the property market.

He added the government is now putting full effort into luring talents to come to Hong Kong and the response has been overwhelming. If all goes well the government may further inject HK$30 billion into the co-investment fund.